Nearby occupiers include Jack Wills, Cotswold Outdoors and McDonald’s
Lot 12
Auction 14th February 2019
Rent £73,000 per Annum Exclusive
Status Sold Post
Price
Sector High Street Retail
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
19 miles north-east of Colchester
54 miles south-east of Cambridge
65 miles north-east of London
Roads
A12, A14
Rail
Ipswich Railway Station
Air
London Stansted Airport
Situation
Ipswich is the county town of Suffolk and is a major commercial centre in the east of England. The property is situated in the heart of Ipswich town centre on the northern side of the pedestrianised Tavern Street, Ipswich’s principal retailing pitch. The Sailmakers Shopping Centre is within close proximity and houses occupiers including Boots, Pandora and Topshop. Other nearby occupiers include EE, O2, Costa, McDonald’s, Santander, Jack Wills and Superdrug.
Tenure
Freehold.
Location
Miles
19 miles north-east of Colchester
54 miles south-east of Cambridge
65 miles north-east of London
Roads
A12, A14
Rail
Ipswich Railway Station
Air
London Stansted Airport
Situation
Ipswich is the county town of Suffolk and is a major commercial centre in the east of England. The property is situated in the heart of Ipswich town centre on the northern side of the pedestrianised Tavern Street, Ipswich’s principal retailing pitch. The Sailmakers Shopping Centre is within close proximity and houses occupiers including Boots, Pandora and Topshop. Other nearby occupiers include EE, O2, Costa, McDonald’s, Santander, Jack Wills and Superdrug.
Tenure
Freehold.
Description
The property comprises a ground floor retail unit with ancillary accommodation on the first floor. The basement and second floor are currently not used by the tenant.
VAT
VAT is applicable to this lot.
EPC
Band C. See legal pack at acuitus.co.uk.
Description
The property comprises a ground floor retail unit with ancillary accommodation on the first floor. The basement and second floor are currently not used by the tenant.
VAT
VAT is applicable to this lot.
EPC
Band C. See legal pack at acuitus.co.uk.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Reversion
Ground First Second Basement
Retail Ancillary - -
78.22 sq m 59.64 sq m Not measured Not measured
(842 sq ft) (642 sq ft)
LUSH RETAIL LIMITED (1)
10 years from 14/11/2012
£73,000
13/11/2022
Total
137.87 sq m
(1,484 sq ft)
£73,000
(1) For the year ending 30th June 2017, LUSH RETAIL LIMITED reported a turnover of £139,921,000, pre-tax profits of £12,866,000 and a total net worth of £23,255,000 (Source: Experian Group 15/01/2019). Lush operates 105 stores in the UK as well as further stores internationally (Source: uk.lush.com 16/01/2019). (2) In 2016, by way of a deed of variation, the 2017 break option was removed, the rent was reduced from £80,000 p.a.x. to £73,000 p.a.x. and a cap of £80,000 p.a.x. was placed on future rent increases. For further information please refer to the legal pack.
